It's been over two months since it was first submitted for approval, but the Skyfire 2.0 web browser for iPhone is now finally, officially available for download, complete with the ability to play Flash videos... sort of. To get around the iPhone's Flash restrictions, the browser actually transcodes the video in a way that lets the phone only see HTML5, and it compresses all videos by about 75 percent in the process to ease bandwidth concerns. Of course, that workaround also means that Flash video is the only type of Flash that the browser supports, and the company also notes that Hulu is currently blocked but that "scores of other premium sites are supported." Skyfire also points out that the browser has more than just Flash going for it -- it's a full-fledged Webkit browser in its own right, and packs a few other tricks like easy sharing to Facebook and Twitter, and a so-called Facebook Quickview mode. Head on past the break for a quick video overview, and hit up the App Store now to grab the browser for the "special early adopter price" of $2.99.

Update: Skyfire is now "sold out." What could that possibly mean? Find out right here.